Real Estate Insights & Expert Tips

In December 2024, the Los Angeles real estate market has experienced a 2% decrease in median home sale prices compared to the same period last year, bringing the median price to $1 million(Redfin).  This decline indicates a cooling trend in the market, which may present opportunities for buyers seeking to invest in the area. Additionally, the average time a property remains on the market has increased by 14.2% year-over-year, now averaging 38 days(Rocket Homes).  This extended duration suggests a shift towards a more balanced market, offering buyers more time to make informed decisions. For sellers, it's essential to adjust pricing strategies to align with current market conditions and to enhance property appeal to attract potential buyers. Overall, the Los Angeles real estate market in December 2024 reflects a period of adjustment, with declining prices and longer listing durations. Both buyers and sellers should stay informed and consider these trends when making real estate decisions.